SAL books entire portfolio

All 125 turboprops in Saab Aircraft Leasing (SAL)’s portfolio had found homes by the end of last year, leaving the company with not one of its aircraft available for lease or purchase. SAL executed 17 aircraft transactions during a period of limited availability. SAL president and CEO Michael Magnusson projects another quiet year this year, forecasting “a small turnover” of Saab aircraft in a market where 30- to 50-seat jets now account for a larger proportion of available equipment.

“Demand for good Saab aircraft continues to be strong and steady,” said Magnusson. “As always, we are pleased to see existing customers extend leases on our aircraft, while others chose to add more.”

Last year SAL either allocated or extended the leases on all six available Saab 2000s. Germany’s OLT extended one and Sweden’s Air Express two. The UK’s Eastern Airways added two, and Sweden’s Golden Air took delivery of one. SAL also sold one corporate shuttle-configured Saab 2000 to Joe Gibbs Racing.

Scotland’s Loganair extended its leases on the only two Saab 340Bs available and purchased another two 340As for cargo use. SAL leased a single 340A to Bahamian charter operator Western Air, and corporate shuttle operator Murray Aviation extended the lease on its 340A. SAL refinanced one Saab 340A for an undisclosed customer.

SAL in December facilitated a long-term lease on a pair of former Colgan Air 340Bs with Air Panama, which launched service with the Swedish twin turboprops in place of a pair of grounded Fokker F27s. It also placed a single Saab 340A for Australia’s Regional Express with Argentina’s SOL.